Lt. Gov. Patrick lays out legislative priorities

Lt. Gov. Dan Patrick outlined his goals for the upcoming legislative session, calling them “general concepts,” according to the Austin American-Statesman.

With an estimated $27 billion surplus, the Legislative Budget Board voted last week to boost the Legislature’s spending capacity by 12.3% — the largest increase allowed under the state constitution. But that still leaves the Legislature having about $14.5 billion in the piggy bank above its spending limit.

Consequently, property tax reduction is one of Patrick’s priorities. He is calling for a hike in the homestead property tax exemption from $40,000 to $60,000, as well as an expansion of personal property exemptions for businesses, the Statesman reported.